Homework Answers
| Variable overhead price variance = 3400 U | |||||
| actual input at standard rate = (34100*30) = 1023000 | |||||
| standard rate = 1083000/36100 =30 | |||||
| variable overhead efficiency variance = (1083000-1023000) | |||||
| variable overhead efficiency variance = 60000 F | |||||
| Variable overhead cost variance = (60000-3400 ) = 56600 | |||||
| b) Fixed overhead price variance = 34000 U | |||||
| actual input at standard rate = 34100*30 = 1023000 | |||||
| fixed overhead actual 1810400-(1023000+3400) = 784000 | |||||
| budgeted fixed overhead = (784000-34000) = 750000 | |||||
| fixed overhead applied (750000/37500)*36100 = 722000 | |||||
| Production volume variance = (750000-722000) = 28000 U | |||||
| Fixed overhead cost variance = (28000+34000) = 62000 U |
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Maple Leaf Production manufactures truck tires. The following
information is available for the last operating period.
Maple Leaf produced and sold 95,000 tires for $45 each.
Budgeted production was 99,000 tires.
Standard variable costs per tire follow.
Direct materials: 4 pounds at $2.00
$
8.00
Direct labor: 0.40 hours at $18.50
7.40
Variable production overhead: 0.25 machine-hours at $14 per
hour
3.50
Total variable costs
$
18.90
Fixed production overhead costs:
Monthly budget $1,400,000
Fixed overhead is applied at the...
Under a two-variance breakdown (decomposition) of the total factory overhead variance, the fixed overhead production volume...
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the fixed overhead production volume
variance, to the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
b.
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the total flexible-budget variance, to
the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
The following information for the past year is available from Thinnews...
McDormand, Inc., reported a $2,400 unfavorable price variance for variable overhead and a $24,000 unfavorable price variance for fixed overhead. The flexible budget had $1,039,200 variable overhead based on 34,640 direct labor-hours; only 34,000 hours were worked. Total actual overhead was $1,790,400. The number of estimated hours for computing the fixed overhead application rate totaled 37,200 hours. Required: a. Prepare a variable overhead analysis. b. Prepare a fixed overhead analysis. Answer is not complete. Complete this question by entering your...
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Required: What is the flexible-budget variance for variable manufacturing overhead! Skizone Company's 4-Variance Analysis: Spending Variance Efficiency Variance Production- Volume Variance Variable overhead S6400 F Fixed overhead (a) 2 $13.000 U No variance $46.000 US Required: If Skizone's combined 4-Variance Analysis shows an unfavorable spending varian S2000, what is the fixed overhead spending variance (a)? Chapters porta Achel ARXAS 81760 AQXSK 065 x LAZ 12500 3R - SE
Factory Overhead Variance Corrections The data related to Shunda Enterprises Inc.'s factory overhead cost for the production of 50,000 units of product are as follows: Actual: Variable factory overhead Fixed factory overhead 76,000 hrs. at $7 ($4.10 for variable factory overhead) $308,500 220,200 532,000 Standard: Productive capacity at 100% of normal was 75,100 hours, and the factory overhead cost budgeted at the level of 76,000 standard hours was $528,800. Based on these data the chief cost accountant prepared the following...
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Maple Leaf Production manufactures truck tires. The following
information is available for the last operating period.
Maple Leaf produced and sold 95,000 tires for $45 each.
Budgeted production was 99,000 tires.
Standard variable costs per tire follow.
Direct materials: 4 pounds at $2.00
$
8.00
Direct labor: 0.40 hours at $18.50
7.40
Variable production overhead: 0.25 machine-hours at $14 per
hour
3.50
Total variable costs
$
18.90
Fixed production overhead costs:
Monthly budget $1,400,000
Fixed overhead is applied at the...
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the fixed overhead production volume
variance, to the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
b.
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the total flexible-budget variance, to
the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
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